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These days, finding an affordable place to live in the Manhattan area can be challenging. Home prices in Manhattan are now at a median cost of $284,696, higher than the Indiana average of $232,932.
The average cost of rent is $931/mo in Manhattan, primarily driven by the current value of real estate in the Manhattan area. In Manhattan, 5.59% of households rent, and 33.07% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Manhattan is $6,795 per month. Households that rent pay about 13.71% of their income on rent here. Manhattan’s most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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